MONTREAL, Jan. 21, 2026 January 22, 2026 - Sydney, Australia
Highlights
- Wide and high-grade lithium intercepts fromVega Zone infill drilling:
- 55.0 m at 2.58%Li2O including 29.9 m at 4.11%Li2O (CV25-1006).
- 24.7 m at 4.00%Li2O including 7.0 m at 6.04%Li2O (CV25-1017A).
- 31.2 m at 2.07%Li2O including 1.1 m at 7.32%Li2O (CV25-1023).
- 20.6 m at 3.31%Li2O including 8.8 m at 5.02%Li2O (CV25-1024).
- 49.7 m at 2.08%Li2O including 4.0 m at 5.16%Li2O (CV25-1016).
- 40.1 m at 1.97%Li2O including 9.3 m at 3.66%Li2O (CV25-948).
- 22.1 m at 2.31%Li2O including 9.0 m at 4.18%Li2O (CV25-1010).
- New high-grade, near surface lithium-tantalum zone discovered ("Helios") at the CV13 Pegmatite:
- 8.8 m at 2.97%Li2O including 5.4 m at 4.60% Li2O (CV25-984).
- 6.4 m at 2.61%Li2O including 4.1 m at 3.94% Li2O (CV25-977).
- 18.4 m at 1.19%Li2O including 6.9 m at 2.49% Li2O (CV25-986).
- High-grade lithium intercepts from Rigel Zone infill drilling:
- 11.5 m at 2.87%Li2O including 6.9 m at 4.40% Li2O (CV25-919).
- 15.0 m at 1.15%Li2O including 7.9 m at 2.15% Li2O (CV25-913).
- Additional well-mineralized lithium drill intercepts at the CV4 Pegmatite:
- 15.0 m at 1.07%Li2O (CV25-985).
- 12.0 m at 1.42%Li2O (CV25-1002B).
- 7.0 m at 2.00%Li2O (CV25-961A).
- A total of 57,024 m (245 holes) of diamond drilling was completed in 2025 with results for lithium and tantalum for the remaining 15,081 m (72 holes) reported in this announcement:
- Core assay results for caesium are pending for CV13 with overlimit1 analysis triggered for multiple holes, including the newly discovered Helios Zone.
Darren L. Smith, Executive Vice President Exploration, comments: "This batch of results from the 2025 drill campaign at Shaakichiuwaanaan include the best lithium intercepts reported to date from the high-grade Vega Zone and from the Property overall. The abundance of spodumene mineralization in these drill holes at Vega is among the strongest to have ever been reported globally. Moreover, discoveries beyond Vega continue to be made with the identification of a new high-grade lithium zone ("Helios") at CV13."
"Results for caesium, including multiple holes with overlimits triggered, are pending. We eagerly await these final assays and will announce results once they have all been received and compiled," added Mr. Smith.
/PRNewswire/ - PMET Resources Inc. (the "Company" or "PMET") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce lithium and tantalum assay results for all remaining holes from its extensive 2025 drill campaign at the Company's wholly-owned Shaakichiuwaanaan Property (the "Property" or "Project"), located in the Eeyou Istchee James Bay region of Quebec.
The Property hosts one of the largest pegmatite Mineral Resources2 (Li, Cs, Ta) and Mineral Reserves3 (Li) in the world, situated approximately 13 km south of the regional Trans-Taiga Road and powerline infrastructure corridor, and is accessible year-round by road. The Company recently announced a robust lithium-only Feasibility Study for the CV5 Pegmatite, which outlined the Project as a potential North American critical mineral powerhouse (see news release dated October 20, 2025).
The 2025 drill campaign at the Property was expansive in nature and included testing of multiple Li-Cs-Ta ("LCT") pegmatite prospects (CV4, CV8, CV12), step-out drilling at CV5 and CV13, infill drilling at CV13, as well as sterilization (i.e., condemnation) and geomechanical drilling in support of the development at CV5 and CV13, respectively. Over the course of the campaign, which was concluded in October, a total of 57,024 m (245 holes) of diamond drilling was completed, of which, results for 41,943 m (173 holes) were reported in news release dated December 14, 2025.
Lithium and tantalum results for the remaining 15,081 m (72 holes) are reported in this announcement (see Figure 1, Figure 3, Figure 6, and Figure 7, and Table 1 through Table 4). Core assay results for caesium remain to be reported for the CV13 Pegmatite with overlimit1 analysis triggered for multiple holes, including the newly discovered Helios Zone.
____________________________________
1
Assay results exceed the upper detection limit (10,000 ppm Cs) of the base analytical package and require subsequent overlimit analysis using a different analytical package to
determine the Cs grade. Overlimit analysis will be reported once received and compiled.
2 The Consolidated MRE (CV5 + CV13 pegmatites), which includes the Rigel and Vega caesium zones, totals 108.0 Mt at 1.40% Li2O, 0.11% Cs2O, 166 ppm Ta2O5, and 66 ppm Ga, Indicated, and 33.4 Mt at
1.33% Li2O, 0.21% Cs2O, 155 ppm Ta2O5, and 65 ppm Ga, Inferred, and is reported at a cut-off grade of 0.40% Li2O (open-pit), 0.60% Li2O (underground CV5), and 0.70% Li2O (underground CV13). A
grade constraint of 0.50% Cs2O was used to model the Rigel and Vega caesium zones. Effective Date is June 20, 2025 (through CV24-787). Mineral Resources are not Mineral Reserves as they do not
have demonstrated economic viability. Mineral Resources are inclusive of Mineral Reserves.
3
Probable Mineral Reserve of 84.3 Mt at 1.26% Li2O at the CV5 Pegmatite with a cut-off grade is 0.40% Li2O (open-pit) and 0.70% Li2O (underground). Underground development and open-
pit marginal tonnage containing material above 0.37% Li2O are also included in the statement. The Effective Date is September 11, 2025. See Feasibility Study news release dated October 20, 2025.
CV13 Pegmatite (Vega, Rigel, and Helios Zones)
The 2025 drilling at the CV13 Pegmatite included infill and step-out holes, and geomechanical drilling in support of development. A total of 23,451 m (106 holes) were completed, of which, lithium results for the remaining 9,771 m (59 holes) are reported in this announcement (see Figure 3, Table 1, and Table 4). Core assay results for caesium remain pending for multiple holes, with a significant number of overlimits triggered, and will be reported once received and compiled.
At the Vega Zone, the strongest lithium results to date were returned from the 2025 campaign, including three (3) individual samples grading >7% Li2O (7.71%, 7.32%, and 7.02%, see Figure 2 and Figure 4) as well as an intercept of 7.0 m at 6.04% Li2O (Figure 5). These results include the highest-grade individual sample (7.71% Li2O, Figure 2), and the widest interval over 6% Li2O (7.0 m, see Figure 5) ever reported from the Property, including the high-grade Nova Zone. Further, a total of five (5) individual core samples to date have assayed over 7% Li2O from the Property - all from the Vega Zone.
Additionally, a new shallow high-grade lithium zone has been discovered ("Helios") at the CV13 Pegmatite. Similar to Vega and Rigel, the Helios Zone also contains coincident high-grade tantalum (Table 1, Figure 3). Additionally, at Helios, significant caesium mineralization has been identified through overlimit analysis triggered for multiple holes. Core assay results for caesium will be reported once results for all holes have been received and compiled. Drill result highlights for lithium include (Figure 3).
Vega Zone
- 55.0 m at 2.58%Li2O including 29.9 m at 4.11%Li2O (CV25-1006).
- 24.7 m at 4.00%Li2O including 7.0 m at 6.04%Li2O (CV25-1017A).
- 31.2 m at 2.07%Li2O including 1.1 m at 7.32%Li2O (CV25-1023).
- 20.6 m at 3.31%Li2O including 8.8 m at 5.02%Li2O (CV25-1024).
- 49.7 m at 2.08%Li2O including 4.0 m at 5.16%Li2O (CV25-1016).
- 40.1 m at 1.97%Li2O including 9.3 m at 3.66%Li2O (CV25-948).
- 22.1 m at 2.31%Li2O including 9.0 m at 4.18%Li2O (CV25-1010).
Helios Zone (A NEW 2025 DISCOVERY)
- 8.8 m at 2.97%Li2O including 5.4 m at 4.60% Li2O (CV25-984).
- 6.4 m at 2.61%Li2O including 4.1 m at 3.94% Li2O (CV25-977).
- 18.4 m at 1.19%Li2O including 6.9 m at 2.49% Li2O (CV25-986).
Rigel Zone
Several holes were completed as infill at the Rigel Zone during the drill campaign. The best lithium result was 11.5 m at 2.87% Li2O including 6.9 m at 4.40% Li2O (CV25-919). High-grade tantalum was also returned at Rigel highlighted by drill hole CV25-913, which returned 15.0 m at 1.15% Li2O and 1,105 ppm Ta2O5 including 7.9 m at 2.15% Li2O and 1,974 ppm Ta2O5. Core assay results for caesium will be reported once results for all holes have been received and compiled.
CV4 Pegmatite
The CV4 Pegmatite, characterized at surface by multiple LCT pegmatite outcrops, is situated approximately 1.5 km along geological trend to the east of the CV5 Pegmatite. The 2025 campaign marked the maiden drill testing of the prospect with a total of 7,358 m (17 holes) completed, of which, results for the remaining 4,099 m (8 holes) are in this announcement (see Figure 6, Table 2, and Table 4).
Results for the first batch of drill holes at the CV4 Pegmatite were announced on December 14, 2025 and included 27.0 m at 1.14% Li2O (CV25-1013) and 13.0 m at 1.37% Li2O (CV25-1013). Results for the remaining drill holes include:
- 15.0 m at 1.07%Li2O (CV25-985).
- 12.0 m at 1.42%Li2O (CV25-1002B).
- 7.0 m at 2.00%Li2O (CV25-961A).
The discovery at CV4 is significant and, coupled with down-ice boulder discoveries in the area (see news release dated March 25, 2025) and observations in core, is interpreted to represent a potential 1.5 km extension of the CV5 Pegmatite to the east. As such, the discovery expands the potential for additional underground resources along strike of the current underground Mineral Reserves at the CV5 Pegmatite. The mineralization at CV4 remains open.
CV8 Pegmatite
The CV8 Pegmatite, characterized at surface by multiple LCT pegmatite outcrops, is situated approximately 0.5 km south of the CV12 Pegmatite on a sub-parallel trend. A total of 2,523 m (11 holes) were completed, of which, results for the remaining 1,211 m (5 holes) are announced herein (see Figure 7, Table 3, and Table 4)
The best results from the 2025 program at the CV8 Pegmatite are 3.1 m at 1.52% Li2O and 3.5 m at 1.26% Li2O - both from drill hole CV25-940A. These intervals also returned high-grade tantalum at 321 ppm Ta2O5 and 295 ppm Ta2O5, respectively, in addition to an interval of 6.3 m at 701 ppm Ta2O5 in drill hole CV25-958. Further, the widest pegmatite intercepts at 20.4 m and 14.7 m - also anomalous in Li and Ta - were returned from the westernmost drill hole completed at the pegmatite, indicating good potential in this direction.
The target remains prospective and warrants further drilling given the association with ultramafic rocks proximal (often strongly associated with the widest spodumene pegmatite bodies at the Property), the large number of individual pegmatite intercepts in drill hole including three (3) greater than 9 m (indicates volume potential), and the presence of spodumene in the system (confirms a lithium content of significance is present in the system).
Next Steps
Results for lithium and tantalum for all drill holes completed in 2025 at Shaakichiuwaanaan have now been reported (57,024 m over 245 holes). Core assay results for caesium remain pending for 9,771 m (59 holes) at the CV13 Pegmatite, with a significant number of overlimits triggered, and will be reported once received and compiled.
The geology team is currently interpreting and working with the 2025 drill hole data to advance the host rock and pegmatite geological models for the Project. The work is focused on the CV5 and CV13 pegmatites ahead of updates that will feed into updated block models, culminating in a revised economic study scheduled for the second half of 2026. The data will also inform an underground bulk sample of mineralized pegmatite at CV5, which is currently being permitted.
Table 1: Core assay summary (lithium & tantalum) for drill holes reported herein at the CV13 Pegmatite.
Hole ID From To Interval Li2O Cs2O Ta2O5 Comments
(m) (m) (m) (%) (%) (ppm)
CV25-913 87.3 102.3 15.0 1.15 Pending 1,105
Incl. 92.8 100.7 7.9 2.15 Pending 1,974
104.5 106.5 2.0 0.21 Pending 510
CV25-914 73.0 82.6 9.7 1.34 Pending 752
CV25-917 81.9 85.2 3.4 0.07 Pending 364
88.9 96.1 7.2 0.08 Pending 131
CV25-919 74.4 85.9 11.5 2.87 Pending 413
Incl. 76.5 83.4 6.9 4.40 Pending 544
CV25-967 100.0 104.4 4.4 0.14 Pending 348
CV25-969 No >2 m pegmatite intersections
CV25-971 No >2 m pegmatite intersections
CV25-973 25.0 37.1 12.2 0.38 Pending 90
CV25-975 35.7 38.5 2.8 0.89 Pending 198
CV25-977 29.0 35.4 6.4 2.61 Pending 251
Incl. 31.3 35.4 4.1 3.94 Pending 308
CV25-979 35.3 45.0 9.7 1.23 Pending 443
Incl. 41.8 44.5 2.7 3.99 Pending 1,056
CV25-980 50.5 53.1 2.6 2.54 Pending 70
CV25-984 41.6 50.4 8.8 2.97 Pending 195
Incl. 44.2 49.6 5.4 4.60 Pending 282
CV25-986 55.3 73.8 18.4 1.19 Pending 132
incl. 64.9 71.8 6.9 2.49 Pending 191
83.1 85.3 2.2 0.17 Pending 289
CV25-989 83.1 88.3 5.2 0.17 Pending 522
CV25-992 44.3 56.8 12.4 1.65 Pending 109
CV25-995 No >2 m pegmatite intersections
CV25-996 No >2 m pegmatite intersections
CV25-998 No >2 m pegmatite intersections
CV25-1000 No >2 m pegmatite intersections
CV25-1001 No >2 m pegmatite intersections
CV25-1004 51.1 60.2 9.1 0.87 Pending 106
CV25-1005 94.1 97.0 2.9 0.16 Pending 445
CV25-1008 46.8 55.9 9.1 1.44 Pending 100
Incl. 50.6 55.4 4.8 2.69 Pending 162
CV25-1009 85.6 87.9 2.2 0.31 Pending 397
CV25-1010 128.7 150.8 22.1 2.31 Pending 127
Incl. 138.9 147.9 9.0 4.18 Pending 129
CV25-1011 244.7 246.9 2.2 0.39 Pending 108
CV25-1012 141.2 175.5 34.3 1.12 Pending 361
Incl. 164.4 175.5 11.0 1.97 Pending 396
CV25-1015 96.2 100.0 3.8 0.08 Pending 2,276
103.5 106.4 2.9 0.14 Pending 338
CV25-1016 119.4 169.1 49.7(3) 2.08 Pending 129
Incl. 135.0 135.7 0.7 7.71 Pending 10
Incl. 154.5 158.6 4.0 5.16 Pending 83
CV25-1017 No >2 m pegmatite intersections
CV25-1017A 146.0 170.7 24.7 4.00 Pending 126
Incl. 150.3 157.3 7.0 6.04 Pending 178
Incl. 162.4 162.9 0.6 7.02 Pending 12
CV25-1019 No >2 m pegmatite intersections
CV25-1021 122.8 148.3 25.6 1.45 Pending 118
Incl. 129.9 148.3 18.4 1.97 Pending 129
151.4 158.6 7.2(3) 1.52 Pending 132
CV25-1022 No >2 m pegmatite intersections
CV25-1023 133.4 164.6 31.2 2.07 Pending 144
Incl. 147.6 155.5 7.9 3.86 Pending 374
Incl. 159.6 160.7 1.1 7.32 Pending 2
or 159.6 162.3 2.7 5.87 Pending 22
CV25-1024 87.6 102.6 15.0 0.15 Pending 442
106.2 126.8 20.6 3.31 Pending 173
Incl. 116.1 124.8 8.8 5.02 Pending 107
CV25-1025 134.9 162.2 27.3 1.57 Pending 679
Incl. 144.6 147.9 3.3 4.08 Pending 304
Incl. 157.0 162.2 5.2 3.03 Pending 368
CV25-921 No >2 m pegmatite intersections Geomechanical
hole
CV25-924 111.7 119.6 7.9 0.26 Pending 32 Geomechanical
hole
CV25-927 16.9 44.8 27.9 1.87 Pending 298 Geomechanical
hole
Incl. 22.9 34.8 11.9 2.94 Pending 217
46.7 54.2 7.5 0.41 Pending 198
129.6 133.8 4.2 0.02 Pending 101
CV25-930 126.1 128.0 2.0 0.01 Pending 23 Geomechanical
hole
CV25-933 146.5 172.6 26.1(3) 0.56 Pending 59 Geomechanical
hole
Incl. 149.5 156.7 7.2 1.91 Pending 57
177.2 179.8 2.6 0.06 Pending 36
206.5 210.5 3.9 0.03 Pending 120
CV25-937 38.4 41.8 3.4 1.57 Pending 242 Geomechanical
hole
CV25-941 80.0 102.2 22.2 0.49 Pending 91 Geomechanical
hole
Incl. 91.9 94.5 2.6 3.11 Pending 75
CV25-945 120.6 144.2 23.6 2.15 Pending 90 Geomechanical
hole
152.5 155.3 2.8 1.00 Pending 183
CV25-948 113.8 153.9 40.1 1.97 Pending 232 Geomechanical
hole
Incl. 143.9 153.2 9.3 3.66 Pending 272
CV25-953 No >2 m pegmatite intersections Geomechanical
hole
CV25-957 162.6 167.9 5.3 1.06 Pending 53 Geomechanical
hole
CV25-962 75.5 92.4 16.9 0.88 Pending 48 Geomechanical
hole
CV25-964 195.0 202.7 7.7 0.62 Pending 47 Geomechanical
hole
CV25-968 43.6 51.1 7.5 1.31 Pending 205 Geomechanical
hole
189.8 205.2 15.4 0.39 Pending 61
CV25-976 No >2 m pegmatite intersections Geomechanical
hole
CV25-982 No >2 m pegmatite intersections Geomechanical
hole
CV25-988 104.4 109.0 4.6 0.23 Pending 108 Geomechanical
hole
119.9 136.9 16.9 0.08 Pending 120
CV25-994 130.8 139.4 8.6 0.11 Pending 81 Geomechanical
hole
CV25-999 45.3 48.4 3.2 0.57 Pending 60 Geomechanical
hole
157.9 160.9 2.9 0.03 Pending 164
CV25-1003 116.2 122.8 6.6 0.27 Pending 152 Geomechanical
hole
CV25-1006 136.7 138.9 2.2 0.12 Pending 158 Geomechanical
hole
151.0 153.9 2.9 1.38 Pending 911
160.0 215.0 55.0 2.58 Pending 267
Incl. 183.9 213.9 29.9 4.11 Pending 340
(1)
All intervals are core length and presented for all pegmatite intervals >2 m; (2) Collared in pegmatite; (3) Includes minor intervals of non-
pegmatite units (typically <3 m). Core assay results for caesium remain to be reported.
Table 2: Core assay summary for drill holes reported herein at the CV4 Pegmatite.
Hole
ID From To Interval Li2O Cs2O Ta2O5
(m) (m) (m) (%) (%) (ppm)
CV25-961A 288.2 296.5 8.3 0.22 0.03 90
494.1 496.7 2.6 0.03 0.01 55
569.6 576.6 7.0 2.00 0.02 88
CV25-985 469.2 472.0 2.8 0.03 0.02 58
517.9 520.2 2.3 0.03 0.02 152
548.6 564.0 15.4 1.07 0.03 103
CV25-997 25.2 30.3 5.1 0.01 0.03 244
107.7 115.6 8.0 0.02 0.02 222
200.6 205.1 4.6 0.02 0.01 127
210.5 215.3 4.8 0.01 0.02 37
388.0 394.0 6.0 0.01 0.03 32
CV25-1002B 265.1 277.0 12.0 1.42 0.05 81
307.4 309.5 2.1 0.03 0.02 56
376.7 383.0 6.3 0.63 0.03 100
392.6 395.3 2.7 0.03 0.04 112
397.6 402.2 4.5 0.02 0.02 254
CV25-1007 69.7 74.4 4.7 0.01 0.02 313
190.5 203.4 12.9 0.01 0.02 190
240.1 260.3 20.1(3) 0.07 0.02 87
484.1 488.1 4.0 0.02 0.01 12
502.1 510.7 8.6 0.03 0.01 105
520.3 526.5 6.2 0.02 0.02 43
CV25-1014 208.4 211.9 3.6 0.01 0.01 228
240.6 245.8 5.2 0.57 0.03 211
254.0 268.8 14.8 0.02 0.02 77
285.0 291.0 6.0 0.01 0.01 221
303.2 305.2 2.0 0.01 0.01 104
CV25-1018 41.8 46.4 4.6 0.01 0.01 297
107.6 128.4 20.8(3) 0.03 0.02 221
218.3 223.3 5.0 0.04 0.03 122
243.4 246.4 3.0 0.03 0.01 56
309.2 311.7 2.4 0.01 0.00 130
435.5 440.0 4.5 0.01 0.01 61
441.7 445.0 3.3 0.01 0.00 29
CV25-1020 290.0 293.9 3.9 0.02 0.02 135
367.3 379.2 11.9 0.47 0.03 97
459.1 461.4 2.3 0.03 0.04 325
471.9 474.7 2.8 0.02 0.01 193
(1) All intervals are core length and presented for all pegmatite intervals >2 m; (2) Collared in pegmatite; (3) Includes
minor intervals of non-pegmatite units (typically <3 m).
Table 3: Core assay summary for drill holes reported herein at the CV8 Pegmatite.
Hole
ID From To Interval Li2O Cs2O Ta2O5
(m) (m) (m) (%) (%) (ppm)
CV25-955 10.1 14.6 4.6 0.08 0.05 123
CV25-958 136.1 138.5 2.3 0.33 0.01 168
207.7 214.0 6.3 0.01 0.03 701
232.7 242.2 9.5 0.05 0.04 143
CV25-966 72.0 74.0 2.1 0.26 0.02 142
76.4 79.5 3.1 0.68 0.04 131
217.8 219.8 2.0 0.11 0.07 26
241.0 243.8 2.8 0.02 0.02 117
CV25-972 41.6 45.1 3.5 0.03 0.02 111
88.7 95.8 7.1 0.23 0.04 165
CV25-983 47.0 61.7 14.7(3) 0.16 0.09 121
82.6 88.2 5.6 0.01 0.01 121
137.0 139.7 2.7 0.01 0.01 47
158.1 160.1 2.0 0.21 0.02 132
166.0 186.4 20.4 0.02 0.05 104
(1) All intervals are core length and presented for all pegmatite intervals >2 m; (2) Collared in pegmatite; (3) Includes
minor intervals of non-pegmatite units (typically <3 m).
Table 4: Attributes for drill holes reported herein at the Shaakichiuwaanaan Property.
Hole ID Substrate Total Depth (m) Azimuth Dip Easting Northing Elevation Core Size Area
(°) (°) (m)
CV25-913 Land 119.1 230 -47 565067.4 5927998.6 429.0
HQ CV13
CV25-914 Land 110.0 205 -60 565068.5 5927998.2 429.0
HQ CV13
CV25-917 Land 110.0 140 -45 565070.0 5927997.7 428.9
HQ CV13
CV25-919 Land 100.9 90 -48 565070.6 5928000.5 429.2
HQ CV13
CV25-921 Land 119.0 300 -65 564969.3 5927995.9 425.5
HQ3 CV13
CV25-924 Land 143.0 88 -20 564781.0 5927945.9 411.0
HQ3 CV13
CV25-927 Land 205.9 200 -60 564741.3 5927833.1 394.7
HQ3 CV13
CV25-930 Land 164.1 145 -50 565514.7 5928132.2 412.6
HQ3 CV13
CV25-933 Land 254.0 140 -65 565379.2 5928220.5 432.3
HQ3 CV13
CV25-937 Land 173.1 170 -85 565442.2 5928367.5 405.3
HQ3 CV13
CV25-941 Land 169.9 140 -75 565709.0 5928599.6 382.3
HQ3 CV13
CV25-945 Land 215.1 295 -75 565461.9 5928558.3 387.9
HQ3 CV13
CV25-948 Land 220.9 0 -70 565294.0 5928610.3 390.2
HQ3 CV13
CV25-953 Land 155.0 345 -70 564235.6 5928355.1 414.4
HQ3 CV13
CV25-955 Land 151.7 200 -45 562081.3 5928856.0 408.6
NQ CV8
CV25-957 Land 187.7 200 -65 564176.9 5928325.9 414.4
HQ3 CV13
CV25-958 Land 369.7 200 -45 562054.0 5928934.5 418.7
NQ CV8
CV25-961A Land 595.7 158 -56 574081.5 5931856.6 386.2
NQ CV4
CV25-962 Land 164.0 200 -55 564218.5 5928149.5 403.2
HQ3 CV13
CV25-964 Land 256.8 50 -70 564552.5 5928183.5 415.7
HQ3 CV13
CV25-966 Land 256.7 20 -55 561966.7 5928813.0 399.6
NQ CV8
CV25-967 Land 140.0 220 -70 564859.3 5928147.3 427.5
NQ CV13
CV25-968 Land 263.2 205 -75 564777.7 5928210.4 425.9
HQ3 CV13
CV25-969 Land 125.9 180 -45 564859.6 5928146.5 427.5
NQ CV13
CV25-971 Land 146.1 240 -45 564858.5 5928147.1 427.5
NQ CV13
CV25-972 Land 179.0 200 -45 562182.8 5928832.2 404.3
NQ CV8
CV25-973 Land 86.1 200 -65 564744.8 5928140.9 421.1
NQ CV13
CV25-975 Land 58.9 200 -45 564822.9 5928104.3 423.8
NQ CV13
CV25-976 Land 146.2 230 -60 564991.6 5928524.0 407.0
HQ3 CV13
CV25-977 Land 79.8 20 -45 564747.0 5928143.9 421.5
NQ CV13
CV25-979 Land 80.3 200 -65 564820.9 5928193.9 426.8
NQ CV13
CV25-980 Land 121.9 0 -75 564777.9 5928210.7 425.8
NQ CV13
CV25-982 Land 151.8 325 -65 565075.2 5928839.7 396.8
HQ3 CV13
CV25-983 Land 254.0 200 -45 561796.5 5928968.4 419.3
NQ CV8
CV25-984 Land 94.9 20 -80 564821.8 5928196.1 427.0
NQ CV13
CV25-985 Land 596.0 167 -45 574081.3 5931856.5 386.3
NQ CV4
CV25-986 Land 109.3 20 -55 564821.9 5928196.6 427.0
NQ CV13
CV25-988 Land 198.2 330 -70 565706.4 5928728.9 384.9
HQ3 CV13
CV25-989 Land 161.0 280 -50 564777.3 5928209.8 425.9
NQ CV13
CV25-992 Land 79.8 180 -85 564923.3 5927904.0 409.0
NQ CV13
CV25-994 Land 173.0 145 -52 565816.3 5928738.5 384.3
HQ3 CV13
CV25-995 Land 176.0 200 -85 564935.9 5927984.4 421.5
NQ CV13
CV25-996 Land 160.9 158 -45 566373.5 5928633.7 365.1
NQ CV13
CV25-997 Land 535.9 158 -45 574333.4 5931695.3 374.4
NQ CV4
CV25-998 Land 191.0 275 -45 564858.4 5928019.3 417.6
NQ CV13
CV25-999 Land 179.1 65 -70 565431.0 5928780.9 390.0
HQ3 CV13
CV25-1000 Land 316.6 158 -45 566411.5 5928545.2 359.0
NQ CV13
CV25-1001 Land 160.3 20 -70 564724.3 5928234.5 424.3
NQ CV13
CV25-1002B Land 473.0 160 -48 574177.8 5931809.5 379.2
NQ CV4
CV25-1003 Land 193.8 180 -52 565230.0 5928538.9 395.6
HQ3 CV13
CV25-1004 Land 188.0 200 -55 564881.3 5928226.8 431.2
NQ CV13
CV25-1005 Land 124.9 200 -45 564855.5 5928311.2 427.4
NQ CV13
CV25-1006 Land 227.6 165 -52 565131.6 5928724.8 395.5
HQ3 CV13
CV25-1007 Land 557.3 158 -57 574333.2 5931695.8 374.4
NQ CV4
CV25-1008 Land 185.0 200 -80 564881.6 5928227.2 431.1
NQ CV13
CV25-1009 Land 151.9 200 -68 564855.7 5928311.7 427.4
NQ CV13
CV25-1010 Land 211.7 150 -60 565464.9 5928557.7 387.9
HQ CV13
CV25-1011 Land 299.3 200 -90 564855.4 5928312.1 427.3
NQ CV13
CV25-1012 Land 230.0 135 -60 565131.6 5928725.0 395.4
HQ CV13
CV25-1014 Land 341.0 158 -66 574333.1 5931695.9 374.4
NQ CV4
CV25-1015 Land 149.0 200 -45 564918.4 5928324.9 426.7
NQ CV13
CV25-1016 Land 235.9 103 -60 565465.2 5928558.0 387.9
HQ CV13
CV25-1017 Land 26.0 180 -70 565292.0 5928611.5 390.1
HQ CV13
CV25-1017A Land 223.7 180 -70 565291.7 5928611.4 390.2
HQ CV13
CV25-1018 Land 476.0 130 -47 574334.2 5931696.3 374.5
NQ CV4
CV25-1019 Land 166.8 200 -70 564918.5 5928325.3 426.7
NQ CV13
CV25-1020 Land 524.0 144 -56 574177.8 5931809.9 379.1
NQ CV4
CV25-1021 Land 206.0 65 -60 565465.0 5928558.4 387.9
HQ CV13
CV25-1022 Land 133.9 200 -45 564812.1 5928337.3 423.6
NQ CV13
CV25-1023 Land 191.0 85 -60 565293.2 5928611.7 390.0
HQ CV13
CV25-1024 Land 149.1 180 -57 565600.4 5928536.8 385.4
HQ CV13
CV25-1025 Land 208.8 215 -62 565280.4 5928733.5 388.4
HQ CV13
(1) Coordinate system NAD83 / UTM zone 18N; (2) All drill holes are diamond drill; (3) Azimuths and dips presented are those 'planned' and may vary off collar/downhole.
Quality Assurance / Quality Control (QAQC)
A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the program and included systematic insertion of quartz blanks and certified/standard reference materials into sample batches at a rate of approximately 5% each. Additionally, analysis of pulp-split sample duplicates was completed to assess analytical precision, and external (secondary) laboratory pulp-split duplicates were prepared at the primary lab for subsequent check analysis and validation.
All core samples collected were shipped to SGS Canada's laboratory in Val-d'Or, QC, for sample preparation (code PRP90 special) which includes drying at 105°C, crush to 90% passing 2 mm, riffle split 250 g, and pulverize 85% passing 75 microns. The pulps were shipped by air to SGS Canada's laboratory in Burnaby, BC, where the samples were homogenized and subsequently analyzed for multi-element (including Li, Ta, and Cs) using sodium peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and GE_IMS91A50). Overlimits for Cs were completed at SGS Canada's laboratory in Lakefield, ON, by borate-fusion XRF (code GC_XRF76V).
Qualified/Competent Person
The technical and scientific information in this news release that relates to the Mineral Resource Estimate and exploration results for the Company's properties is based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 01968), and with the Association of Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith has reviewed and approved the related technical information in this news release.
Mr. Smith is an Executive and Vice President of Exploration for PMET Resources Inc. and holds common shares, Restricted Share Units (RSUs), Performance Share Units (PSUs), and options in the Company.
The information in this news release that relates to the Mineral Reserve Estimate and Feasibility Study is based on, and fairly represents, information compiled by Mr. Frédéric Mercier-Langevin, Ing. M.Sc., who is a Qualified Person as defined by NI 43-101, and member in good standing with the Ordre des Ingénieurs du Québec. Mr. Mercier-Langevin has reviewed and approved the related technical information in this news release.
Mr. Mercier-Langevin is the Chief Operating and Development Officer for PMET Resources Inc. and holds common shares, RSUs, PSUs, and options in the Company.
About PMET Resources Inc.
PMET Resources Inc. is a pegmatite critical mineral exploration and development company focused on advancing its district-scale 100%-owned Shaakichiuwaanaan Property located in the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year-round by all-season road and proximal to regional hydro-power infrastructure.
In late 2025, the Company announced a positive lithium-only Feasibility Study on the CV5 Pegmatite for the Shaakichiuwaanaan Property and declared a maiden Mineral Reserve of 84.3 Mt at 1.26% Li2O (Probable)4. The study outlines the potential for a competitive and globally significant high-grade lithium project targeting up to ~800 ktpa spodumene concentrate using a simple Dense Media Separation ("DMS") only process flowsheet. Further, the results highlight Shaakichiuwaanan as a potential North American critical mineral powerhouse with significant opportunity for tantalum and caesium in addition to lithium.
_________________________________
4 See Feasibility Study news release dated October 20, 2025. Probable Mineral Reserve cut-off grade is 0.40% Li2O (open-pit) and 0.70% Li2O (underground). Underground development and open-pit
marginal tonnage containing material above 0.37% Li2O are also included in the statement. Effective Date of September 11, 2025.
The Project hosts a Consolidated Mineral Resource[5] totalling 108.0 Mt at 1.40% Li2O and 166 ppm Ta2O5 (Indicated) and 33.4 Mt at 1.33% Li2O and 155 ppm Ta2O5 (Inferred), and ranks as the largest[6] lithium pegmatite resource in the Americas, and in the top ten globally. Additionally, the Project hosts the world's largest pollucite-hosted caesium pegmatite Mineral Resource at the Rigel and Vega zones with 0.69 Mt at 4.40% Cs2O (Indicated), and 1.70 Mt at 2.40% Cs2O (Inferred).
This news release has been approved by
"KEN BRINSDEN"
Kenneth Brinsden, President, CEO, & Managing Director
Olivier Caza-Lapointe
Head, Investor Relations
T: +1 (514) 913-5264
E: ocazalapointe@pmet.ca
Disclaimer for Forward-Looking Information
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws.
All statements, other than statements of present or historical facts, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words such as "plan", "development", "growth", "continued", "intentions", "expectations", "emerging", "evolving", "strategy", "opportunities", "anticipated", "trends", "potential", "outlook", "ability", "additional", "on track", "prospects", "viability", "estimated", "reaches", "enhancing", "strengthen", "target", "believes", "next steps" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements include, but are not limited to, statements concerning the interpretation of the results from exploration, the exploration and development potential of various zones, including CV4, CV5, CV12, and CV13, the remaining results from the 2025 drill campaign and future exploration work, including the anticipated results therefrom.
____________________
5
The Consolidated MRE (CV5 + CV13 pegmatites), which includes the Rigel and Vega caesium zones, totals 108.0 Mt at 1.40% Li2O, 0.11% Cs2O, 166 ppm Ta2O5, and 66 ppm Ga, Indicated,
and 33.4 Mt at 1.33% Li2O, 0.21% Cs2O, 155 ppm Ta2O5, and 65 ppm Ga, Inferred, and is reported at a cut-off grade of 0.40% Li2O (open-pit), 0.60% Li2O (underground CV5), and 0.70% Li2O
(underground CV13). A grade constraint of 0.50% Cs2O was used to model the Rigel and Vega caesium zones. The Effective Date is June 20, 2025 (through drill hole CV24-787). Mineral Resources are
not Mineral Reserves as they do not have demonstrated economic viability. Mineral Resources are inclusive of Mineral Reserves.
6
Determination based on Mineral Resource data, sourced through July 11, 2025, from corporate disclosure.
Forward-looking statements are based upon certain assumptions and other important factors that, if untrue, could cause actual results to be materially different from future results expressed or implied by such statements. There can be no assurance that forward-looking statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include, without limitation, the ability to make discoveries beyond Vega and to identify a new high-grade zone, that proposed exploration work on the Property will continue as expected, the accuracy of reserve and resource estimates, the classification of resources between inferred and the assumptions on which the reserve and resource estimates are based, long-term demand for lithium (spodumene), tantalum (tantalite), and caesium (pollucite) supply, and that exploration and development results continue to support management's current plans for Property development.
Forward-looking statements are also subject to risks and uncertainties facing the Company's business, any of which could have a material adverse effect on the Company's business, financial condition, results of operations and growth prospects. Readers should review the detailed risk discussion in the Company's most recent Annual Information Form filed on SEDAR+, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate. If any of the risks or uncertainties mentioned above, which are not exhaustive, materialize, actual results may vary materially from those anticipated in the forward-looking statements.
The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.
Competent Person Statement (ASX Listing Rules)
The information in this news release that relates to the Feasibility Study ("FS") for the Shaakichiuwaanaan Project, which was first reported by the Company in a market announcement titled "PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study for its Large-Scale Shaakichiuwaanaan Project" dated October 20, 2025 (Montreal time) is available on the Company's website at www.pmet.ca, on SEDAR+ at www.sedarplus.ca and on the ASX website at www.asx.com.au. The production target from the Feasibility Study referred to in this news release was reported by the Company in accordance with ASX Listing Rule 5.16 on the date of the original announcement. The Company confirms that, as of the date of this news release, all material assumptions and technical parameters underpinning the production target in the original announcement continue to apply and have not materially changed.
The Mineral Resource and Mineral Reserve Estimates in this release were first reported by the Company in accordance with ASX Listing Rule 5.8 in market announcements titled "World's Largest Pollucite-Hosted Caesium Pegmatite Deposit" dated July 20, 2025 (Montreal time) and "PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study for its Large-Scale Shaakichiuwaanaan Project" dated October 20, 2025 (Montreal time) and are available on the Company's website at www.pmet.ca, on SEDAR+ at www.sedarplus.ca and on the ASX website at www.asx.com.au. The Company confirms that, as of the date of this news release, it is not aware of any new information or data verified by the competent person that materially affects the information included in the relevant announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed. The Company confirms that, as at the date of this announcement, the form and context in which the competent person's findings are presented have not been materially modified from the original market announcement.
Appendix 1 - JORC Code 2012 Table 1 (ASX Listing Rule 5.8.2)
Section 1 - Sampling Techniques and Data
Criteria
JORC Code explanation
Commentary
Sampling techniques • Nature and quality of sampling (eg cut channels, random chips, or specific
specialized industry standard measurement tools appropriate to the minerals under
investigation, such as down hole gamma sondes, or handheld XRF instruments, etc).
These examples should not be taken as limiting the broad meaning of sampling.
• Core sampling protocols meet industry standard practices.
• Include reference to measures taken to ensure sample representivity and the • Core sampling is guided by lithology as determined during geological logging (i.e., by a geologist). All
appropriate calibration of any measurement tools or systems used. pegmatite intervals are sampled in their entirety (half-core), regardless if spodumene mineralization is
noted or not (in order to ensure an unbiased sampling approach) in addition to ~1 to 3 m of sampling into
the adjacent host rock (dependent on pegmatite interval length) to "bookend" the sampled pegmatite.
• Aspects of the determination of mineralization that are Material to the Public • The minimum individual sample length is typically 0.5 m and the maximum sample length is typically 2.0 m.
Report. Targeted individual pegmatite sample lengths are 1.0 to 1.5 m.
• In cases where 'industry standard' work has been done this would be relatively • All drill core is oriented to maximum foliation prior to logging and sampling and is cut with a core saw
simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which into half-core pieces, with one half-core collected for assay, and the other half-core remaining in the
3 kg was pulverized to produce a 30 g charge for fire assay'). In other cases more box for reference.
explanation may be required, such as where there is coarse gold that has inherent
sampling problems. Unusual commodities or mineralization types (eg submarine
nodules) may warrant disclosure of detailed information.
• Core samples collected from drill holes were shipped to SGS Canada's laboratory in Val-d'Or, QC, for
sample preparation (code PRP90 special) which included drying at 105°C, crush to 90% passing 2 mm, riffle
split 250 g, and pulverize 85% passing 75 microns.
• All drill core sample pulps were shipped by air to SGS Canada's laboratory in Burnaby, BC, where the
samples were homogenized and subsequently analysed for multi-element (including Li, Ta, and Cs) using
sodium peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and GE_IMS91A50). Overlimits for Cs were
completed at SGS Canada's laboratory in Lakefield, ON, by borate-fusion XRF (code GC_XRF76V).
Drilling techniques • Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube,
depth of diamond tails, face-sampling bit or other type, whether core is oriented
and if so, by what method, etc).
• NQ, HQ, or HQ3 size core diamond drilling was completed for all holes. Core was not oriented.
Drill sample recovery • Method of recording and assessing core and chip sample recoveries and results • All drill core was geotechnically logged following industry standard practices, and include TCR, RQD,
assessed. ISRM, and Q-Method (since mid-winter 2023). Core recovery typically exceeds 90%.
• Measures taken to maximize sample recovery and ensure representative nature of
the samples.
• Whether a relationship exists between sample recovery and grade and whether
sample bias may have occurred due to preferential loss/gain of fine/coarse
material.
Logging • Whether core and chip samples have been geologically and geotechnically logged to • Upon receipt at the core shack, all drill core is pieced together, oriented to maximum foliation, metre
a level of detail to support appropriate Mineral Resource estimation, mining marked, geotechnically logged (including structure), alteration logged, geologically logged, and sample
studies and metallurgical studies. logged on an individual sample basis. Core box photos are also collected of all core drilled, regardless of
perceived mineralization. Specific gravity measurements of pegmatite are also collected at systematic
intervals for all pegmatite drill core using the water immersion method, as well as select host rock drill
core.
• Whether logging is qualitative or quantitative in nature. Core (or costean, • The logging is qualitative by nature, and includes estimates of spodumene grain size, inclusions, and
channel, etc) photography. model mineral estimates.
• The total length and percentage of the relevant intersections logged.
• These logging practices meet or exceed current industry standard practices.
Sub-sampling techniques • If core, whether cut or sawn and whether quarter, half or all core taken. • Drill core sampling followed industry best practices. Drill core was saw-cut with half-core sent for
and sample preparation geochemical analysis and half-core remaining in the box for reference. The same side of the core was
sampled to maintain representativeness.
• If non-core, whether riffled, tube sampled, rotary split, etc and whether • The minimum individual sample length is typically 0.5 m and the maximum sample length is typically 2.0 m.
sampled wet or dry. Targeted individual pegmatite sample lengths are 1.0 to 1.5 m.
• For all sample types, the nature, quality and appropriateness of the sample
preparation technique.
• Sample sizes are considered appropriate for the material being assayed.
• Quality control procedures adopted for all sub-sampling stages to maximize • A Quality Assurance / Quality Control protocol following industry best practices was incorporated into
representivity of samples. the program and included systematic insertion of quartz blanks and certified/standard reference materials
into sample batches at a rate of approximately 5% each. Additionally, analysis of pulp-split sample
duplicates was completed to assess analytical precision, and external (secondary) laboratory pulp-split
duplicates were prepared at the primary lab for subsequent check analysis and validation.
• Measures taken to ensure that the sampling is representative of the in situ • All protocols employed are considered appropriate for the sample type and nature of mineralization and
material collected, including for instance results for field duplicate/second- are considered the optimal approach for maintaining representativeness in sampling.
half sampling.
• Whether sample sizes are appropriate to the grain size of the material being
sampled.
Quality of assay data and • The nature, quality and appropriateness of the assaying and laboratory procedures • Core samples collected from drill holes were shipped to SGS Canada's laboratory in Val-d'Or, QC, for
laboratory tests used and whether the technique is considered partial or total. sample preparation (code PRP90 special) which included drying at 105°C, crush to 90% passing 2 mm, riffle
split 250 g, and pulverize 85% passing 75 microns.
• For geophysical tools, spectrometers, handheld XRF instruments, etc, the • All drill core sample pulps were shipped by air to SGS Canada's laboratory in Burnaby, BC, where the
parameters used in determining the analysis including instrument make and model, samples were homogenized and subsequently analysed for multi-element (including Li, Ta, and Cs) using
reading times, calibrations factors applied and their derivation, etc. sodium peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and GE_IMS91A50). Overlimits for Cs were
completed at SGS Canada's laboratory in Lakefield, ON, by borate-fusion XRF (code GC_XRF76V).
• Nature of quality control procedures adopted (eg standards, blanks, duplicates, • The Company relies on both its internal QAQC protocols (systematic use of blanks, certified/standard
external laboratory checks) and whether acceptable levels of accuracy (ie lack of reference materials, and external checks), as well as the laboratory's internal QAQC.
bias) and precision have been established.
• All protocols employed are considered appropriate for the sample type and nature of mineralization and
are considered the optimal approach for maintaining representativeness in sampling.
Verification of sampling • The verification of significant intersections by either independent or • Intervals are reviewed and compiled by the EVP Exploration and Project Managers prior to disclosure,
and assaying alternative company personnel. including a review of the Company's internal QAQC sample analytical data.
• The use of twinned holes. • No twinned holes were completed, although a few were recollared immediately adjacent if initially lost.
• Documentation of primary data, data entry procedures, data verification, data • Data capture utilizes MX Deposit software whereby core logging data is entered directly into the software
storage (physical and electronic) protocols. for storage, including direct import of laboratory analytical certificates as they are received. The
Company employs various on-site and post QAQC protocols to ensure data integrity and accuracy.
• Discuss any adjustment to assay data. • Adjustments to data include reporting lithium and tantalum in their oxide forms, as it is reported in
elemental form in the assay certificates. Formulas used are Li2O = Li x 2.153, Ta2O5 = Ta x 1.221, and Cs2O
= Cs x 1.0602
Location of data points • Accuracy and quality of surveys used to locate drill holes (collar and down-hole • Each drill hole collar has been surveyed with a RTK Trimble Zephyr 3, except for a minor number of holes
surveys), trenches, mine workings and other locations used in Mineral Resource (e.g., holes lost which were re-collared).
estimation.
• Specification of the grid system used.
• The coordinate system used is UTM NAD83 Zone 18.
• Quality and adequacy of topographic control. • The Company completed a property-wide LiDAR and orthophoto survey in August 2022, which provides high-
quality topographic control.
• The quality and accuracy of the topographic controls are considered adequate for advanced stage
exploration and development, including Mineral Resource estimation.
Data spacing and
• Data spacing for reporting of Exploration Results. • At CV5, drill hole collar spacing is dominantly grid based. Several collars are typically completed from
distribution the same pad at varied orientations targeting pegmatite pierce points of ~50 (Indicated) to 100 m
(Inferred) spacing.
• Whether the data spacing and distribution is sufficient to establish the degree • At CV13, drill hole spacing is a combination of grid based (at ~100 m spacing) and fan based with
of geological and grade continuity appropriate for the Mineral Resource and Ore multiple holes collared from the same pad. Therefore, collar locations and hole orientations may vary
Reserve estimation procedure(s) and classifications applied. widely, which reflect the varied orientation of the pegmatite body along strike. Pegmatite pierce points of
~50 (Indicated) to 100 m (Inferred) spacing are targeted.
• Whether sample compositing has been applied. • At CV12 and CV8, drill hole collar spacing is dominantly grid based. Several collars are typically
completed from the same pad at varied orientations targeting pegmatite pierce points of ~50 m to 100 m
spacing.
• At CV4, drill hole spacing is fan based with multiple holes collared from the same pad.
• Based on the nature of the mineralization and continuity in geological modelling, the drill hole spacing
is anticipated to be sufficient to support a MRE.
• Core sample lengths typically range from 0.5 to 2.0 m and average ~1.0 to 1.5 m. Sampling is continuous
within all pegmatite encountered in the drill hole.
• Core samples are not composited upon collection or for analysis.
Orientation of data in • Whether the orientation of sampling achieves unbiased sampling of possible
relation to geological structures and the extent to which this is known, considering the deposit type.
structure
• No sampling bias is anticipated based on structure within the mineralized body.
• If the relationship between the drilling orientation and the orientation of key • The principal mineralized bodies are relatively undeformed and very competent, although have meaningful
mineralized structures is considered to have introduced a sampling bias, this structural control.
should be assessed and reported if material.
• At CV5, the principal mineralized body and adjacent lenses are steeply dipping resulting in oblique
angles of intersection with true widths varying based on drill hole angle and orientation of pegmatite at
that particular intersection point. i.e., the dip of the mineralized pegmatite body has variations in a
vertical sense and along strike, so the true widths are not always apparent until several holes have been
drilled (at the appropriate spacing) in any particular drill-fence.
• At CV13, the principal pegmatite body has a varied strike and shallow northerly dip. The Rigel and Vega
zones are hosted entirely within the CV13 Pegmatite as lenses concordant to the local pegmatite
orientation.
• At CV12 and CV8, current interpretation supports a series of shallow, northerly dipping sheets.
• At CV4, current interpretation supports a series of steeply, northerly dipping sheets.
Sample security
• The measures taken to ensure sample security. • Samples were collected by Company staff or its consultants following specific protocols governing sample
collection and handling. Core samples were bagged, placed in large supersacs for added security, palleted,
and shipped directly to Val-d'Or, QC, being tracked during shipment along with Chain of Custody. Upon
arrival at the laboratory, the samples were cross-referenced with the shipping manifest to confirm all
samples were accounted for. At the laboratory, sample bags are evaluated for tampering.
Audits or reviews
• The results of any audits or reviews of sampling techniques and data. • A review of the sample procedures for the Company's drill programs has been reviewed by several
Qualified/Competent Persons through multiple NI 43-101 technical reports completed for the Company and
deemed adequate and acceptable to industry best practices. The most recent Technical Report includes a
review of sampling techniques and data through 2024 (drill hole CV24-787) in a technical report titled
"CV5 Pegmatite Lithium-Only Feasibility Study NI 43-101 Technical Report, Shaakichiuwaanaan Project" with
an Effective Date of October 20, 2025, and Issue Date of November 14, 2025.
• Additionally, the Company continually reviews and evaluates its procedures in order to optimize and
ensure compliance at all levels of sample data collection and handling.
Section 2 - Reporting of Exploration Results
Criteria
JORC Code explanation
Commentary
Mineral tenement and land tenure • Type, reference name/number, location and ownership • The Shaakichiuwaanaan Property (formerly called "Corvette") is comprised of 463 CDC claims located in the James Bay Region of
status including agreements or material issues with third parties Quebec, with Lithium Innova Inc. (wholly owned subsidiary of PMET Resources Inc.) being the registered title holder for all of
such as joint ventures, partnerships, overriding royalties, the claims. The northern border of the Property's primary claim block is located within approximately 6 km to the south of the
native title interests, historical sites, wilderness or Trans-Taiga Road and powerline infrastructure corridor. The CV5 Spodumene Pegmatite is accessible year-round by all-season
national park and environmental settings. road is situated approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure.
The CV13 and CV9 spodumene pegmatites are located approximately 3 km west-southwest and 14 km west of CV5, respectively.
• The security of the tenure held at the time of reporting • The Company holds 100% interest in the Property subject to various royalty obligations depending on original acquisition
along with any known impediments to obtaining a licence to agreements. DG Resources Management holds a 2% NSR (no buyback) on 76 claims, D.B.A. Canadian Mining House holds a 2% NSR on 50
operate in the area. claims (half buyback for $2M), OR Royalties holds a sliding scale NSR of 1.5-3.5% on precious metals, and 2% on all other
products, over 111 claims, and Azimut Exploration holds 2% NSR on 39 claims.
• The Property does not overlap any atypically sensitive environmental areas or parks, or historical sites to the knowledge of
the Company. There are no known hinderances to operating at the Property, apart from the goose harvesting season (typically
mid-April to mid-May) where the communities request helicopter flying not be completed, and potentially wildfires depending
on the season, scale, and location.
• Claim expiry dates range from July 2026 to July 2028.
Exploration done by other • Acknowledgment and appraisal of exploration by other
parties parties.
• No previous exploration targeting LCT pegmatites has been conducted by other parties at the Project.
• For a summary of previous exploration undertaken by other parties at the Project, please refer to the most recent NI 43-101
Technical Report.
Geology • Deposit type, geological setting and style of • The Property overlies a large portion of the Lac Guyer Greenstone Belt, considered part of the larger La Grande River
mineralization. Greenstone Belt and is dominated by volcanic rocks metamorphosed to amphibolite facies. The claim block is dominantly host to
rocks of the Guyer Group (amphibolite, iron formation, intermediate to mafic volcanics, peridotite, pyroxenite, komatiite, as
well as felsic volcanics). The amphibolite rocks that trend east-west (generally steeply south dipping) through this region
are bordered to the north by the Magin Formation (conglomerate and wacke) and to the south by an assemblage of tonalite,
granodiorite, and diorite, in addition to metasediments of the Marbot Group (conglomerate, wacke). Several regional-scale
Proterozoic gabbroic dykes also cut through portions of the Property (Lac Spirt Dykes, Senneterre Dykes).
• The geological setting is prospective for multiple commodities over several different deposit styles including orogenic gold
(Au), volcanogenic massive sulphide (Cu, Au, Ag), komatiite-ultramafic (Au, Ag, PGE, Ni, Cu, Co), and LCT pegmatite (Li, Cs,
Ta, Ga, Rb).
• Exploration of the Property has outlined three primary mineral exploration trends crossing dominantly east-west over large
portions of the Property - Golden Trend (gold), Maven Trend (copper, gold, silver), and CV Trend (lithium, caesium, tantalum).
The CV4, CV5, CV8, CV12, and CV13 pegmatites are situated within the CV Trend.
• The pegmatites at Shaakichiuwaanaan are categorized as Li-Cs-Ta ("LCT") pegmatites. LCT mineralization at the Property is
observed to occur within quartz-feldspar pegmatite. The pegmatite is often very coarse-grained and off-white in appearance,
with darker sections commonly composed of mica and smoky quartz, and occasional tourmaline.
• Core assays and ongoing mineralogical studies, coupled with field mineral identification and assays confirm spodumene as the
dominant lithium-bearing mineral on the Property, with no significant petalite, lepidolite, lithium-phosphate minerals, or
apatite present. The spodumene crystal size of the pegmatites is typically decimeter scale, and therefore, very large. The
pegmatites also carry significant tantalum (tantalite) and caesium (pollucite). Gallium is present in spodumene and feldspar
via substitution with Al.
Drill hole Information • A summary of all information material to the understanding
of the exploration results including a tabulation of the
following information for all Material drill holes:
• Drill hole attribute information is included in a table herein.
o easting and northing of the drill hole collar
• Pegmatite intersections of <2 m are not typically presented as they are considered insignificant.
o elevation or RL (Reduced Level - elevation above sea level
in metres) of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
• If the exclusion of this information is justified on the
basis that the information is not Material and this exclusion
does not detract from the understanding of the report, the
Competent Person should clearly explain why this is the case.
Data aggregation methods • In reporting Exploration Results, weighting averaging
techniques, maximum and/or minimum grade truncations (eg
cutting of high grades) and cut-off grades are usually
Material and should be stated.
• Length weighted averages were used to calculate grade over width.
• Where aggregate intercepts incorporate short lengths of • No specific grade cap or cut-off was used during grade width calculations. The lithium, tantalum, and caesium (if
high grade results and longer lengths of low grade results, applicable) length weighted average grade of the entire pegmatite interval is calculated for all pegmatite intervals over 2 m
the procedure used for such aggregation should be stated and core length, as well as higher grade zones at the discretion of the geologist. All samples >1% Cs2O are also reported when
some typical examples of such aggregations should be shown in applicable.
detail.
• The assumptions used for any reporting of metal equivalent • Pegmatites have inconsistent mineralization by nature, resulting in some intervals having a small number of poorly
values should be clearly stated. mineralized samples included in the calculation. Non-pegmatite internal dilution is limited to typically <3 m where relevant
and intervals indicated when assays are reported.
• No metal equivalents have been reported.
Relationship between • These relationships are particularly important in the • At CV5, current interpretation supports a principal, large pegmatite body of near vertical to steeply dipping orientation,
mineralization widths and reporting of Exploration Results. flanked by several subordinate pegmatite lenses.
intercept lengths
• If the geometry of the mineralization with respect to the • At CV13, current interpretation supports a series of sub-parallel trending sills with a flat-lying to shallow northerly
drill hole angle is known, its nature should be reported. dip. Within the CV13 Pegmatite body are the Rigel and Vega zones, which follow the local trend of the wider pegmatite body.
• If it is not known and only the down hole lengths are
reported, there should be a clear statement to this effect
(eg 'down hole length, true width not known').
• At CV12 and CV8, current interpretation supports a series of shallow, northerly dipping sheets.
• At CV4, current interpretation supports a series of steeply, northerly dipping sheets.
• All reported widths are core length.
Diagrams • Appropriate maps and sections (with scales) and tabulations
of intercepts should be included for any significant
discovery being reported. These should include, but not be
limited to a plan view of drill hole collar locations and
appropriate sectional views.
• Please refer to the figures included herein as well as those posted on the Company's website.
Balanced reporting • Where comprehensive reporting of all Exploration Results is
not practicable, representative reporting of both low and
high grades and/or widths should be practiced to avoid
misleading reporting of Exploration Results.
• Reporting is balanced.
• Please refer to the table(s) included herein.
• Results for pegmatite intervals <2 m are not typically reported.
Other substantive exploration • Other exploration data, if meaningful and material, should • The Company is currently completing site environmental work over the CV5 and CV13 pegmatite area. No endangered flora or
data be reported including (but not limited to): geological fauna have been documented over the Property to date, and several sites have been identified as potentially suitable for mine
observations; geophysical survey results; geochemical survey infrastructure.
results; bulk samples - size and method of treatment;
metallurgical test results; bulk density, groundwater,
geotechnical and rock characteristics; potential deleterious
or contaminating substances.
• The Company has completed a bathymetric survey over the shallow glacial lake which overlies a portion of the CV5 Spodumene
Pegmatite. The lake depth ranges from <2 m to approximately 18 m, although the majority of the CV5 Spodumene Pegmatite, as
delineated to date, is overlain by typically <2 to 10 m of water.
• The Company has completed significant metallurgical testing comprised of HLS and magnetic testing, which has produced 6+%
Li2O spodumene concentrates at >70% recovery on both CV5 and CV13 pegmatite material. A DMS test on CV5 Pegmatite material
returned a Subsequent and more expansive DMS pilot programs completed, including with non-pegmatite dilution, produced results
in line with prior testwork, confirming a DMS-only flowsheet is applicable. The Company has also produced a marketable lithium
hydroxide concentrate from CV5's spodumene concentrate.
• The Company has produced marketable tantalite concentrates at bench-scale from the CV5 Pegmatite's DMS (spodumene) tailings
fractions. The testwork used gravity or gravity + flotation methods to produce tantalite concentrates grading 8.7% Ta2O5 at 45%
global recovery (MC001) and 6.6% Ta2O5 at 49% global recovery (MC002).
• The Company has produced marketable pollucite concentrates at bench-scale from the CV13 Pegmatite's Vega Caesium Zone. The
testwork used XRT ore sorting to produce concentrates of 11.5% Cs2O and 20.0% Cs2O at an overall 88% recovery.
• Various mandates required for advancing the Project have been completed or are ongoing, including but not limited to,
environmental baseline, metallurgy, geomechanics, hydrogeology, hydrology, stakeholder engagement, geochemical
characterization, as well as transportation and logistical studies. A Feasibility Study for lithium-only on the CV5 Pegmatite
was announced October 20, 2025.
Further work • The nature and scale of planned further work (eg tests for • The Company intends to continue drilling the pegmatites of the Shaakichiuwaanaan Property, primarily targetting lithium,
lateral extensions or depth extensions or large-scale step- caesium, and tantalum as the primary commodities of interest.
out drilling).
• Diagrams clearly highlighting the areas of possible
extensions, including the main geological interpretations and
future drilling areas, provided this information is not
commercially sensitive.
• Metallurgical test programs evaluating the recovery of lithium, caesium, and tantalum are ongoing.
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SOURCE PMET Resources Inc.
For further information, please contact us at info@pmet.ca or by calling +1 (604) 279-8709, or visit www.pmet.ca. Please also refer to the Company's continuous disclosure filings, available under its profile at www.sedarplus.ca and www.asx.com.au, for available exploration data.